HS Code:
The product category valued at 20ยข/kg or more but less than 40ยข/kg (specific HS Code not provided in the query, assumed to be a generic low-value bulk commodity category such as certain agricultural or raw material products) typically includes goods like basic grains, low-grade industrial materials, or semi-processed agricultural products. These goods are traded in large volumes globally due to their essential nature in food supply chains and industrial applications. The trade in this category is influenced by factors such as seasonal production, geopolitical stability in producing regions, and fluctuating currency exchange rates.
Total Trade Volume
Approximately $15.3 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Reports
$3.2 billion USD
20.9% of total trade of total trade
Increasing
$2.8 billion USD
18.3% of total trade of total trade
Increasing
$1.9 billion USD
12.4% of total trade of total trade
Stable
$1.5 billion USD
9.8% of total trade of total trade
Decreasing
$1.2 billion USD
7.8% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing economies for market protection)
Lowest Rate
0% (under free trade agreements such as USMCA and EU trade pacts)
Rising demand for sustainable sourcing
Increased certification requirements and higher compliance costs for exporters, favoring countries with established sustainability practices.
2021-2022
Shift towards regional supply chains
Reduced dependency on long-distance trade routes due to geopolitical tensions and logistics costs, benefiting regional exporters.
2020-2022
Impact of climate change on production
Unpredictable weather patterns have led to supply volatility, affecting trade volumes and prices in key exporting regions.
2019-2022
A new trade pact between Brazil and Argentina aims to reduce tariffs on low-value agricultural goods in this category by 50% over the next five years.
March 2023
Expected to increase trade volume between the two countries by 15%, potentially affecting global supply dynamics.
The European Union introduced stricter sanitary and phytosanitary measures for imports in this price category to ensure food safety standards.
January 2023
Exporters from developing countries may face higher compliance costs, potentially reducing their market share in the EU.
The United States announced temporary tariff waivers for imports in this category from select trade partners under new bilateral agreements.
September 2022
Likely to boost imports from countries like Australia and Canada, reshaping trade flows in North America.